U.S. Jewelry Sales Post Strong Rise in February

April 17, 17by Ken Gassman

Sales of fine jewelry and fine watches rose by 6.2 percent in the U.S. market in February 2017, when compared to the same month a year ago, as the graph below illustrates.

Sales were an estimated $7.1 billion, according to preliminary data from the U.S. Commerce Department. February sales reflect Valentine’s Day demand for jewelry; this is the third largest sales period in the U.S. market, after Christmas and Mother’s Day. This was the sixth consecutive monthly gain that has been well above more modest gains reported during the early months of 2016.

Outlook Optimistic for 2017 Jewelry Sales

While chain jewelers have been reporting generally soft sales for the most recent fiscal quarter ended January 2017, independent jewelers have generally been reporting stronger sales gains.

Our preliminary forecast for jewelry sales gains in the U.S. market for 2017 is a gain in the four percent range, year-over-year.